Executive Summary
FutureMe is an astrology tarot card business that aims to use technology to attract global clients. Our webcam service allows us to undercut astrology card readers who deliver face-to-face services.
The business is run from the owner’s household and currently has an ROI of 671%, given that the only expense was a computer, tarot cards, and a camera.
Digital marketing is the spine of the company. By popularizing FutureMe on social media platforms, we've been able to attract hundreds of customers and establish ourselves as an authority in the market.
Company Overview
FutureMe was founded by Rachel Gibbs in 2013. The company is registered as a sole proprietorship in the state of Wisconsin.
Rachel currently runs the FutureMe from her home office in Oshkosh. The business is fully run online. This has led to Rachel providing her services to hundreds of people across the world.
Her primary mission is to provide top-tier clairvoyant services digitally, ultimately giving people access to receive tarot card readings at a much lower rate.
The business has generated $670,000 to date and currently employs 3 part-time staff members. 3/ Market and Customer Analysis- H2
Astrology tarot card market and customer analysis
Gaining insights into the astrology tarot card industry will allow you to position your business accordingly. You'll also need to consider the priorities of your target audience.
Market & Customer Analysis
According to Verified Market Research, the astrology tarot card industry is worth $1,2 billion globally. It's also expected to grow at a CAGR (Compound Annual Growth Rate) of 3,51% over the next 6 years.
This figure indicates that the market is in a state of growth. This opportunity is met with the threat of many competitions worldwide. However, there isn't an abundance of astrology tarot card readers in Oshkosh. Our analysis suggests that there are only 4 professional astrology tarot card readers in the area.
We've taken advantage of the emerging online tarot card reading trend. By providing our services online, we've been able to build a much larger customer base.
By continuously conducting a market analysis, we'll continue to remain relevant in the market whilst taking advantage of the opportunities that present themselves.
Customer Analysis
FutureMe’s primary customers are between the ages of 17 and 80 years old. Given the virtual nature of the business, our customers are located just about anywhere in the world. We make use of Wordvice AI, which is a tool that makes translating seamless. This has allowed us to conduct readings for global clients.
Based on a recent survey we conducted, we've established that our customers have a median household income of $15,000. Our considerably low prices are accommodative of individuals who earn far less than minimum wage.
This has helped us build a loyal customer base that books readings numerous times a year, ultimately increasing their lifetime value for the business.
Our customers book readings for a variety of reasons. Self-introspection, personal development, mindfulness, and even entertainment are the leading motivations for them. They're not only looking to find out what the future has in store for them.
Our customers are particularly tech-savvy and use social media frequently. This has influenced how we promote our business and carry out our services.
4/ Sales and Marketing Plan
Astrology tarot card sales and marketing plan
Without a solid sales plan, your business won't survive. It's equally as important that you develop strategies to promote your astrology tarot card reading business.
Sales Plan
FutureMe's sales strategy is highly reliant on our affordable pricing. This, in combination with our regular discounts, has led to the success of our company.
We also have a referral system that rewards individuals for connecting us with new clients from their network. This win-win scenario generates 27% of our sales.
The design of our website is an effective sales funnel in itself. Visitors of our website are informed about the many benefits of astrology tarot card readings. In a matter of moments, their payments are processed and they're made aware of when their reading is scheduled for.
We make use of an AI-powered chatbot to provide immediate 24/7 customer support for our clients. This has made addressing customer inquiries seamless.
By keeping a close record of the effectiveness of our sales plan, we've been able to rectify all slumps in our performance promptly. Our sales forecasts suggest that the business will achieve a growth of at least 1,5% annually. We've attributed this to the growth of the astrology tarot card market and our increasing marketing budget.
Marketing Plan
FutureMe’s tech-driven approach to conducting astrology tarot card readings has led us to spend heavily on digital marketing.
The focus groups that we've conducted indicate that our customers spend an average of 7 hours a week on social media. They also actively use emails to keep up with current news and information from their favorite blogs and businesses.
For this reason, we've invested almost 38% of our budget into social media ads and email content. This has not only helped us put FutureMe in front of more eyeballs but has also helped us establish ourselves as an authority in the market.
Our competitors, most of whom work on a face-to-face basis mainly, are also increasingly advertising their businesses online. To stand out from our industry rivals, we've partnered with astrology card readers who are influential on social media. For instance, we partnered with Sakshi Singhal two years ago. Her following of +500,000 people increased our engagement and follower count significantly.
We also sponsor Astrology.com, which offers the public free tarot card readings. This initiative has further popularized FutureMe.
Operating Plan
Personnel Role Task Dwight Ellis Customer Service Rep • Ensuring that customer inquiries and complaints are dealt with promptly Francis May Astrology tarot card reader • Provide second house readings based on financial resources Giovanni Dos Santos Astrology tarot card reader • Provide first house readings based on self-awareness Juliette Lewis Astrology tarot card reader • Provide fifth and sixth house readings based on romance and health/career Eva o’ Connor Admin Assistant • Overseeing the storage of files and documents Brian White Social Media Manager • Developing social media strategies in collaboration with our chief marketing officer Valerie Smith-Rowe Web Designer (part-time) • Assisting with the upkeep of our website • Troubleshooting slow loading times, ultimately ensuring our video calls and live streams are of a high quality
Management Team
FutureMe's management team is lean but highly effective. The following individuals are responsible for driving our business' growth:
CEO: Rachel Gibbs
Rachel Gibbs is the spearhead of the business and is responsible for directing and coordinating the business. As an experienced astrology card reader herself, she's trained 23 card readers over the years. Rachel studied astrology and numerology at the International School of Astrology.
CMO: Harry Ford
When it comes to all things marketing, Harry Ford is a pro. His ability to build a relatable brand has enabled us to forge a connection with our clients. His proficiency in social media management has made us a force to be reckoned with on the digital front. Harry obtained his marketing degree from the University of Wisconsin.
CFO: Dr. Harriet Da Costa
Harriet Da Costa ensures that our company’s finances are in the green. The talented financial officer was ranked #24 in the illustrious Forbes 30 Under 30 list making her one of the most successful business professionals in 2009. Harriet received her doctorate from Marquette University.
Financial Plan
Projected Profit or Loss Statement
Year 1 Year 2 Year 3 Sales $90,000 $170,000 $300,000 Direct Cost of Sales $20,500 $30,000 $82,000 Production Payroll $0 $0 $0 Other $0 $0 $0 Total Cost of Sales $20,500 $30,000 $82,000 Gross Margin $69,500 $140,000 $218,000 Gross Margin % 77% 82% 73% Operating Expenses
Sales and Marketing Expenses
Sales and Marketing Payroll $20,000 $40,000 $40,000 Advertising/Promotion $800 $1,000 $1,000 Travel $0 $0 $0 Miscellaneous $500 $500 $500 Total Sales and Marketing Expenses $21,300 $41,500 $41,500 General and Administrative Expenses
General and Administrative Payroll $20,000 $40,250 $100,250 Sales and Marketing and Other Expenses $0 $0 $0 Depreciation $1,000 $1,000 $1,000 Dues and Subscriptions $200 $200 $200 Professional Fees $300 $300 $300 Rent $2,000 $2,000 $2,000 Software Purchases $0 $15,000 $0 Insurance $2,000 $2,000 $2,000 Telephone and Internet Access $2,000 $2,000 $2,000 Utilities $400 $400 $400 Miscellaneous $0 $0 $0 Payroll Taxes $500 $1,200 $3,000 Other General and Administrative Expenses $0 $0 $0 Total General and Administrative Expenses $28,400 $64,350 $111,150 Other Expenses:
Other Payroll $0 $0 $0 Consultants $0 $0 $0 Contract/Consultants $0 $0 $0 Total Other Expenses $0 $0 $0 Total Operating Expenses $28,400 $64,350 $111,150 Profit Before Interest and Taxes $19,800 $102,840 $225,410 EBITDA $19,800 $103,860 $226,430 Interest Expense $800 $3,632 $2,957 Taxes Incurred $0 $24,802 $56,540 Net Profit $19,000 $34,150 $65,350 Net Profit/Sales 21% 20% 22%
Projected Cash Flow Statement Cash Received Year 1 Year 2 Year 3 Cash from Operations
Cash Sales $90,000 $170,000 $300,000 Cash from Receivables $0 $0 $0 Subtotal Cash from Operations $90,000 $170,000 $300,00 Additional Cash Received
Sales Tax, VAT, HST/GST Received $0 $0 $0 New Current Borrowing $20,000 $0 $0 New Other Liabilities (interest-free) $0 $0 $0 New Long-term Liabilities $0 $0 $0 Sales of Other Current Assets $0 $0 $0 Sales of Long-term Assets $0 $0 $0 New Investment Received $0 $0 $0 Subtotal Cash Received $110,000 $170,000 $300,000 Expenditures
Expenditures from Operations
Subtotal Spent on Operations $48,900 $94,350 $111,150 Additional Cash Spent
Sales Tax, VAT, HST/GST Paid Out $800 $0 $0 Principal Repayment of Current Borrowing $10,000 $10,000 $0 Other Liabilities Principal Repayment $0 $0 $0 Long-term Liabilities Principal Repayment $0 $0 $0 Purchase Other Current Assets $0 $0 $0 Purchase Long-term Assets $0 $0 $0 Dividends $0 $0 $0 Subtotal Cash Spent $59,700 $104,350 $193,150 Net Cash Flow $50,300 $65,650 $106,850 Cash Balance $19,000 $34,150 $65,350 Projected Balance Sheet Assets Year 1 Year 2 Year 3 Current Assets
Cash $90,000 $170,000 $300,000 Accounts Receivable $0 $0 $0 Other Current Assets $0 $0 $0 Total Current Assets $90,000 $170,000 $300,000 Long-term Assets $10,000 $9,000 $8,000 Accumulated Depreciation $1,000 $1,000 $1,000 Total Long-term Assets ($1,000) ($1,000) ($1,000) Total Assets $100,000 $179,000 $308,00 Liabilities and Capital
Current Liabilities
Accounts Payable $0 $0 $0 Current Borrowing $20,000 $10,000 $0 Other Current Liabilities $0 $0 $0 Subtotal Current Liabilities $20,000 $10,000 $0 Long-term Liabilities $0 $0 $0 Total Liabilities $20,000 $10,000 $0 Paid-in Capital $30,000 $30,000 $30,000 Retained Earnings ($20,000) ($30,000) $41,000 Earnings ($12,000) $44,000 $160,000 Total Capital ($2,000) $44,000 $231,000 Total Liabilities and Capital $18,000 $54,000 $231,000 Net Worth $80,000 $169,00 $308,000
Wrapping up the Astrology Tarot Card Business Plan You don't need a telescope to see the opportunity that exists in the astrology tarot card industry.
The stars will align for your business if you follow the structure we've put in place for you. As exciting as pursuing this venture may be, you'll still need to put in a great amount of hard work to do in order to thrive in the market.
A winning sales and marketing plan combined with a solid understanding of your customer and the market landscape will drive your business's growth.
Armed with a comprehensive financial and operating plan, you'll be able to enhance the financial health and overall productivity of your business.
Get in touch with our experienced business plan writing team if you're looking for one-on-one guidance on how to compile your unique astrology tarot card readings business plan.